**Executive Summary**
This press release from the Reserve Bank of India (RBI), dated February 20, 2026, reports on the money market operations as of February 19, 2026. It details the volumes, weighted average rates, and ranges for various money market segments, including overnight and term segments, and RBI operations such as the Liquidity Adjustment Facility (LAF) and Marginal Standing Facility (MSF). It also presents the cash reserve positions of scheduled commercial banks.
**Key Points / Main Content**
* **Money Market Operations (February 19, 2026)**
* **Overnight Segment:** The volume for Call Money, Triparty Repo, Market Repo, and Repo in Corporate Bond is 0.00.
* **Term Segment:** The volume for Notice Money, Term Money, Triparty Repo, Market Repo, and Repo in Corporate Bond is 0.00.
* **RBI Operations (Today's Operations)**
* Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
* Repo Operation: ₹74.00 Crore at 5.50%
* SDF: ₹3,23,427.00 Crore at 5.00%
* Net liquidity injected from today's operations: -₹3,23,353.00 Crore (absorption).
* **RBI Operations (Outstanding Operations)**
* Repo Operation: ₹22,651.00 Crore at 5.34% (Maturity Date: Thu, 30/04/2026)
* Reverse Repo Operation: ₹1,03,875.00 Crore at 5.26% (Maturity Date: Thu, 30/04/2026)
* MSF: ₹705.00 Crore at 5.50% (Maturity Date: Fri, 20/02/2026)
* SDF: ₹55,241.00 Crore at 5.00% (Maturity Date: Fri, 20/02/2026)
* **Other Liquidity Facilities**
* Standing Liquidity Facility (SLF) Availed from RBI: ₹6,687.34 Crore
* Net liquidity injected from outstanding operations: ₹78,677.34 Crore
* Net liquidity injected (outstanding including today's operations): -₹2,44,675.66 Crore (absorption).
* **Cash Reserve Position (of Scheduled Commercial Banks)**
* Cash balances with RBI as on February 19, 2026: ₹7,90,503.60 Crore
* Average daily cash reserve requirement for the fortnight ending February 28, 2026: ₹7,65,963.00 Crore
* **Government of India Surplus Cash Balance**
* Reckoned for Auction as on February 18, 2026: ₹0.00 Crore
* **Net Durable Liquidity**
* As on January 31, 2026: ₹4,53,843.00 Crore
**Impact Analysis**
**Scheduled Commercial Banks**
* **Impact:** Banks are informed of the current rates, volumes, and liquidity conditions in the money market, as well as the cash reserve requirements.
* **Action Required:** Banks must manage their liquidity and reserves in accordance with the reported figures and comply with the cash reserve requirements.
**RBI (Reserve Bank of India)**
* **Impact:** The RBI uses this information to monitor and manage liquidity in the money market.
* **Action Required:** The RBI will continue to adjust its operations to maintain stable market conditions based on these figures.
Key Entities Referenced
Reserve Bank of India (RBI): India's central bank, responsible for monetary policy and regulation of the banking system. This press release relates to money market operations.
Liquidity Adjustment Facility (LAF): A tool used by the RBI to manage liquidity in the money market through repo and reverse repo operations.
Marginal Standing Facility (MSF): A facility under which scheduled commercial banks can borrow overnight funds from the RBI at a penal interest rate against their government securities portfolio.
Standing Deposit Facility (SDF): A tool that allows the RBI to absorb liquidity from the commercial banks without any collateral.
प्रेस प्रकाशनी PRESS RELEASE
भारतीय ररज़र्व बैंक
RESERVE BANK OF INDIA
वेबसाइट
:
www.rbi.org.in/hindi
संचार वर्भाग, केंद्रीय कायाालय, शहीद भगत ससिंह मागा, फोटा, म िंबई - 400 001
Website : www.rbi.org.in Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort,
ई-मेल/email : helpdoc@rbi.org.in Mumbai - 400 001 फोन/Phone: 022 - 2266 0502
February 20, 2026
Money Market Operations as on February 19, 2026
(Amount in ₹ Crore, Rate in Per cent)
MONEY MARKETS@ Volume Weighted Range
(One Leg) Average Rate
A. Overnight Segment (I+II+III+IV) 0.00 - -
I. Call Money 0.00 - -
II. Triparty Repo 0.00 - -
III. Market Repo 0.00 - -
IV. Repo in Corporate Bond 0.00 - -
B. Term Segment
I. Notice Money** 0.00 - -
II. Term Money@@ 0.00 - -
III. Triparty Repo 0.00 - -
IV. Market Repo 0.00 - -
V. Repo in Corporate Bond 0.00 - -
RBI OPERATIONS@ Auction Tenor Maturity Amount Current
Date (Days) Date Rate/Cut
off Rate
C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
I Today's Operations
1. Fixed Rate
2. Variable Rate&
(a) Repo Operation
(b) Reverse Repo Operation
3. MSF# Thu, 19/02/2026 1 Fri, 20/02/2026 74.00 5.50
4. SDFΔ# Thu, 19/02/2026 1 Fri, 20/02/2026 3,23,427.00 5.00
5. Net liquidity injected from today's
-3,23,353.00
operations [injection (+)/absorption (-)]*
II Outstanding Operations
1. Fixed Rate
2. Variable Rate&
(a) Repo Operation Fri, 30/01/2026 90~ Thu, 30/04/2026 22,651.00 5.34
Fri, 30/01/2026 90~~ Thu, 30/04/2026 1,03,875.00 5.26
(b) Reverse Repo Operation
3. MSF# Wed, 18/02/2026 2 Fri, 20/02/2026 705.00 5.50
4. SDFΔ# Wed, 18/02/2026 2 Fri, 20/02/2026 55,241.00 5.00
D. Standing Liquidity Facility (SLF) Availed from RBI$ 6,687.34
E. Net liquidity injected from outstanding operations [injection
78,677.34
(+)/absorption (-)]*
F. Net liquidity injected (outstanding including today's
-2,44,675.66
operations) [injection (+)/absorption (-)]*2
RESERVE POSITION@ Date Amount
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on February 19, 2026 7,90,503.60
(ii) Average daily cash reserve requirement for the fortnight ending^ February 28, 2026 7,65,963.00
H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ February 18, 2026 0.00
I. Net durable liquidity [surplus (+)/deficit (-)] as on January 31, 2026 4,53,843.00
@ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
- Not Applicable / No Transaction.
** Relates to uncollateralized transactions of 2 to 14 days tenor.
@@ Relates to uncollateralized transactions of 15 days to one year tenor.
$ Includes refinance facilities extended by RBI.
& As per the Press Release No. 2025-2026/1201 dated September 30, 2025.
~ As per the Press Release No 2025-2026/1998 dated January 27, 2026.
~~ As per the Press Release No 2025-2026/2015 dated January 30, 2026.
Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
* Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
# As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
^ As per the notification No. RBI/2025-26/148 DOR.RET.REC.354/12.01.001/2025-26 dated December 11, 2025.
Ajit Prasad
Press Release: 2025-2026/2141 Deputy General Manager
(Communications)